Quixant plans IPO to fund growth

Gaming platform specialist Quixant is planning to list on the AIM market of the London Stock Exchange in order to finance future growth.

The UK-based company’s listing will be a placing of ordinary shares in an amount of up to $8m.

Quixant has grown significantly over the past few years and the AIM listing and the funds raised are intended to strengthen available working capital as the company wins further contracts with customers and raises its profile as a supplier of gaming equipment.

The company’s 2012 revenue more than doubled to $21.6m, compared with the previous year. Profit before tax almost trebled to $4.8m.

“Trading in the current year is progressing well, in line with our expectations,” said co-founder and managing director Nick Jarmany. “We believe that given the fundamentals of the business, our leading specialised products, proprietary technology and strong growth drivers, now is the right time to IPO.

“The funds raised and increased profile will assist Quixant in its aim to become the de facto standard in specialised gaming computer systems.”